Respected members,
One proprietorship firm engaged in providing tour operation services ( International) has collected TCS U/s 206 during the month of May 2023 . Can anyone please guide under which code it will be deposited online through income tax portal..?
Because there is no description is showing as Tour operation services. Is it fair and correct to select Description as "TCS On foreign remittance " Under Section -206 & Code- 6 CO for depositing TCS collected .

Thanks & Regards
CA Enayat

I am a CA Final student and have appeared for both groups in may 2023 but failed to clear, my querry is that if I give exam for single group in nov 2023 exam and clear the same, then what are my eligibility criteria in may 2024 also i have completed my articleship in 2022.

Respected members,
A haj tour operator providing international tour packages has collected TCS u/s 206C from customers during May 2023. Please guide which description and code shall be selected while depositing this TCS amount online through Income tax portal. Under the deposit screen Foreign tour operator is not showing under description. The following one is there. Can anyone please advise is it correct to deposit this TCS amount under the following .
Description
TCS on Foreign Remittance
Section
206C
Code
6CO

Regards

Dear Sir / Madam,

It is seen in most flat purchase agreements that a person who is earning, keeps their spouse, mother, or father as a joint owner. They are there for the namesake and just to avoid any legal intricacy if something happens to the earning member. Their share is also not defined in the agreement.

Moreover, the housing loan is repaid by the earning co-owner only. The other co-owner doesn't contribute to the repayment also.

But still, in agreement, we have to show them as co-owner and their share, say as 50:50.

My questions are as follows:

1) If that property is rented for say Rs. 500,000/- pa and there is interest on home loan of Rs. 250,000/- then we have to divide the rent between the co-owners.
But the only earning co-owner is repaying the loan, can we show the entire interest on the Home loan of Rs. 250,000/- in his return and Rs. 0 in the other's return?

2) If the answer to 1 is yes and the other co-owner income is only rental income and some savings interest and total income is below the taxable limit. Will it be okay if he doesn't file the return, even though he has a share in the property?

Kindly guide.
Regards,
Suraj

Dear Sir, Can you please tell me what are the FEMA compliances if a foreign subsidiary company borrows from holding company ? Pls let me know which form to be filed urgently. Pls help Sir

I have taken articleship transfer from mumbai to kolkata But i was unable to join articleship firm there can i rejoin the articleship firm in mumbai If my articleship is already terminated

WE ARE DOING BOTIQUE BUSINESS.
ONE SUPPLIER HAS WRONGLY UPDATED HIS INVOICE IN GST PORTAL.
THE ISSUE IS THAT HE HAS WRONGLY CALCULATED GST AMOUNT.
WE HAVE PAID FOR THE NET INVOICE VALUE INCLUSIVE OF GST. BUT THE SUPPLIER AGAIN ADDED 5% GST IN AROUND 40 INVOICES. WE HAD INTIMATED THE SAME TO THE SUPPLIER .
HE AGREED HIS MISTAKE AND ASKED US TO LET HIM KNOW THE OVER ALL AMOUNT TO BE ADJUSTED.

I HAVE PHYSICAL INVOICE WITH ME. NOW SHOULD I SEE 2A OR 2B AND COMPARE MY INVOICE AND ARRIVE THE EXCESS AMOUNT UPLOADED BY SUPPLIER

PLS ADVICE
THANKS AND REGARDS
SURESH R

I have been working as a staff in an audit firm for the past 2 years. I completed my articleship for 9 months and terminated with my previous principal around 2013. Now I am working as a staff with my present employer since 2021. Can I now file form 103 with penalty and claim articleship for those 2 years from 2021 - present?

Hi Everyone

Can anybody help me out regarding below query?

What is the procedure to register the Rental agreement (Rental period is 5 years) and the cost of registration in Tamilnadu?

Thanks in advance.

DEAR SIR,

ONE OF MY CLIENT IS SOLE PROPRIETOR OF A TRADING BUSINESS AND ALSO PARTNER IN A FIRM MY QUERY IS THE FIRM FILING ITS ITR RETURN IN OCT MONTH OR NOVEMBER MAY BE WILL BE DELAY IN FILING MY CLIENT RECEIVE REMUNERATION AND INTEREST SO INDIVIDUAL SHOULD FILE HIS ITR RETURN BEFORE JULY IN THIS MY CLIENT IMPOSSIBLE TO FILE DUE DATE WHAT DO.

REGARD